German media group ProSiebenSat.1 is planning to invest more in local content in 2024 for its streaming platform Joyn as well its TV stations.
ProSiebenSat.1 said it will increase its programming budget by around €80 million to around €1.05 billion in the coming year, with a focus on locally produced content.
As part of the move, ProSiebenSat.1 said it will further reduce the share of US licensed content it offers.
The company said that the long-standing practice of acquiring US licensed content on the basis of extensive long-term output deals with Hollywood studios will end. In the future, ProSiebenSat.1 will continue to acquire US licensed content on a selective basis.
Bert Habets, Group CEO of ProSiebenSat.1 Media SE said: “The success of our programmes in recent months clearly shows that our local programming offensive is paying off. Our viewers are watching more local content on all our channels and especially on Joyn. We are now taking the next strategic step and will invest significantly more in local content from 2024, offering our viewers a unique programming experience to serve very different media usage interests and, above all, to differentiate ourselves from the competitors of Joyn.”
Martin Mildner, Group CFO of ProSiebenSat.1 Media SE said the investment in local content would “significantly expand our offering on Joyn… and differentiate our TV stations even more strongly than before from US streaming platforms with live and local content.”
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